DraftKings Inc. (NASDAQ:DKNG) Insider Sells $26,544,290.96 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the sale, the insider now directly owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paul Liberman also recently made the following trade(s):

• On Monday, August 26th, Paul Liberman sold 88,441 shares of DraftKings stock. The stock was sold at an average price of $35.64, for a total transaction of $3,152,037.24.
• On Monday, July 15th, Paul Liberman sold 63,206 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00.

DraftKings Stock Down 1.4 %

Shares of DKNG traded down $0.58 during trading hours on Friday, reaching $40.36. The stock had a trading volume of 7,161,517 shares, compared to its average volume of 10,648,141. DraftKings Inc. has a 12 month low of $25.73 and a 12 month high of $49.57. The firm has a 50-day simple moving average of $35.55 and a 200 day simple moving average of $39.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $35.08 billion, a price-to-earnings ratio of -34.20 and a beta of 1.80.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned ($0.17) EPS. DraftKings’s quarterly revenue was up 26.2% compared to the same quarter last year. Equities research analysts predict that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DraftKings

Several large investors have recently made changes to their positions in the business. Winthrop Advisory Group LLC increased its holdings in DraftKings by 2.4% in the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock worth $475,000 after acquiring an additional 244 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in DraftKings by 26.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock worth $54,000 after acquiring an additional 250 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in DraftKings by 21.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after acquiring an additional 286 shares during the last quarter. Sfmg LLC increased its holdings in DraftKings by 3.9% in the 1st quarter. Sfmg LLC now owns 8,140 shares of the company’s stock worth $370,000 after acquiring an additional 306 shares during the last quarter. Finally, Brown Lisle Cummings Inc. increased its holdings in DraftKings by 32.5% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after acquiring an additional 325 shares during the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DKNG. Susquehanna increased their target price on shares of DraftKings from $47.00 to $48.00 and gave the stock a “positive” rating in a report on Wednesday, September 4th. Barclays dropped their target price on shares of DraftKings from $53.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Bank of America dropped their target price on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Benchmark increased their target price on shares of DraftKings from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, UBS Group increased their target price on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $49.74.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.